Tyson Foods (NYSE:TSN) Issues Earnings Results, Beats Expectations By $0.23 EPS

Tyson Foods (NYSE:TSN - Get Free Report) released its quarterly earnings results on Monday. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.23, RTT News reports. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $13.16 billion. Tyson Foods had a negative net margin of 1.62% and a positive return on equity of 2.23%. The business's revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. Tyson Foods updated its FY 2024 guidance to EPS.

Tyson Foods Stock Down 5.7 %

Tyson Foods stock traded down $3.52 during mid-day trading on Monday, hitting $58.50. The company had a trading volume of 11,585,491 shares, compared to its average volume of 2,865,119. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of -23.68, a PEG ratio of 0.49 and a beta of 0.74. Tyson Foods has a 1 year low of $44.94 and a 1 year high of $62.04. The company has a quick ratio of 0.67, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $57.80 and a 200 day moving average of $53.53.

Tyson Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, May 31st. Tyson Foods's dividend payout ratio (DPR) is -79.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler raised their target price on Tyson Foods from $44.00 to $48.00 and gave the company a "neutral" rating in a report on Friday, January 26th. Stephens reaffirmed an "overweight" rating and set a $70.00 target price on shares of Tyson Foods in a research note on Tuesday, February 6th. The Goldman Sachs Group increased their target price on shares of Tyson Foods from $49.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, April 17th. Citigroup boosted their price target on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets increased their price objective on Tyson Foods from $52.00 to $55.00 and gave the company a "market perform" rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $59.20.

Insider Buying and Selling at Tyson Foods

In other Tyson Foods news, Director Noel W. White sold 9,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $53.75, for a total value of $483,750.00. Following the transaction, the director now directly owns 31,115 shares in the company, valued at $1,672,431.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.05% of the stock is currently owned by insiders.

Tyson Foods Company Profile

Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.